The Cypriots have accused pharmaceutical manufacturer Emancipaz of having a history of falsification of data in order to increase prices.
According to Cypriote Pharma, which is based in the Netherlands, Emancin had been using “a number of different methods” to make claims on its products, such as using “invalid and unreliable” data to make “unreasonable” claims.
“They were making claims based on incomplete and unreliable data, as well as misleading statements, to the detriment of the public,” said Cyprioted’s chairman, Dr. Raul Tovar.
“They were using a number of methods, including falsifying the price of drugs, that would lead to inflated prices for the benefit of Emancatz and the Cypriotes’ business interests.”
Emancapaz has denied any wrongdoing, saying it only uses “industry-leading technology to make informed and responsible decisions about drug products.”
“Cypriot Pharma is not involved in the marketing or distribution of any of the products sold by Emanciapaz, and we will never sell them to the public or any other entity,” the company said in a statement.
“Emanciampaz has never been involved in any illegal activities.”
Cypriots Health Minister, Dr Marcello Bautista, said he was “saddened” by the allegations and promised to take action.
“These accusations come as a blow to the Cyriots economy, and are clearly an attempt to weaken our economy and to weaken the CyPriots Government,” he said in the statement.
The Cypriotic government, in its statement, said the government will “investigate” Emancopaz’s allegations and “take all necessary measures to protect Cypriota’s economic competitiveness.”
The Cyriot government has faced criticism from European Union members and the U.S. government for not doing more to combat corruption in its economy.
But it is also facing a backlash from Cyprioters who accuse it of failing to tackle the drug industry’s endemic corruption.
The Cyriotes government is expected to hold a vote on Tuesday on the Cy-Priot government.